Is “Risk-Free Income” Permissible in Islam?

Question: Is a product that promises “risk-free income” automatically haram, or are there exceptions?

Quan2um Shariah Advisor — Hazem Mryan:
Any financial product that promises risk-free income together with guaranteed capital is strictly prohibited under Shariah, because it combines a capital guarantee with a predetermined return without exposure to real commercial risk. This constitutes ribā al-nasīʾah — usurious interest for deferment of payment or a waiting period — and ribā al-qarḍ — any benefit to the lender that is stipulated in advance in the terms of a loan contract.

However, the following are not considered prohibited risk-free income:

1. Unconditional voluntary gifts — hibah — that are not promised by contract.
2. Muḍārabah or mushārakah structures, provided that:
a) the capital is not guaranteed,
b) the profit is not predetermined in advance,
c) returns depend on actual results.